Quick facts: Cedar falls, IA

Quick Facts

90.5
Cost of Living
below US average
40,746
Population
20.37
Crime Rate per 1000
below US average
$71,011
Median Income
below US average
$175,000
Median House Price
above US average
$1568.13
Average Rent
above US average
8%
Poverty Rate
below US average
2.9%
Unemployment Rate
below US average

πŸ’΅ Affordability Calculator

Based on the 28/36 rule: housing costs should not exceed 28% of your gross income. Compared against local median income of $71,011.

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Income Needed to Buy

βœ“ Affordable
$55k/year
Based on $175,000 median home price
Assumes 30-year mortgage at 7% with 20% down payment
πŸ“Š Median income ($71,011) exceeds requirement
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Income Needed to Rent

βœ“ Affordable
$67k/year
Based on $1568.13/month average rent
Annual income where rent = 28% of gross
πŸ“Š Median income ($71,011) exceeds requirement
πŸ’‘ 28/36 Rule: Housing ≀28% of gross income, total debt ≀36%. This is a guideline used by many lenders.

Overview for Cedar falls, IA

Cedar Falls is a vibrant city located in northeastern Iowa, known for its rich history and strong sense of community. With a population of approximately 40,000, it is part of the Waterloo-Cedar Falls Metropolitan Statistical Area. Cedar Falls is home to the University of Northern Iowa, which adds a dynamic educational presence and contributes to the city's cultural offerings. The downtown area features a mix of local shops, restaurants, and cultural attractions, including museums and art galleries. Cedar Falls also boasts beautiful parks and recreational areas, such as George Wyth State Park and the Cedar River, providing ample opportunities for outdoor activities like hiking, biking, and fishing. Architecturally, the city features charming historic buildings that reflect its past, alongside modern developments that cater to its growing population. The community hosts several annual events and festivals, fostering a lively atmosphere. With a commitment to education, outdoor enjoyment, and community spirit, Cedar Falls serves as an inviting destination for residents and visitors alike.

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